SURIGAO CITY– After the long due plan to revive mining operations in Nonoc, Surigao City, Top Frontier Investment Holdings Inc., a conglomerate of San Miguel Corporation has now finally set a schedule for the possible construction of $1.5 Billion nickel processing plant in 2018.
During the Top Frontier Holdings’ Annual Stockhohlders’ Meeting last July 12, 2017, Ramon Ang, president of San Miguel Corporation said that the feasibility study of the proposed plant is ongoing and would be completed before the end of 2017.
“We are now finalizing the feasibility study of the project then the financial study. If the results are positive, we will go for financing and probably start construction by next year,” Ramon Ang said.
Along with the $1.5 Billion nickel processing plant, a 600 megawatt power plant is also proposed near Nonoc mining area to cater the need of energy for the processing plant as well as the host province.
The proposed processing plant is sought to be one of perennial solutions to exporting problem of unprocessed raw minerals of the Philippines. With having this, the country will no longer bring soils abroad to process raw nickels. The processing of nickel minerals is now possible in home.
Once the mining operation is resurged, Surigao City could accumulate an income of around P1 Billion per annum from this activity alone. Plus the city’s income of around P700 million in 2017, it could make the city’s annual income higher than the income of some HUCs in Mindanao. – MEB Admin CARAGA